Fuller & Thaler Asset Management Inc. Makes New Investment in Elastic (NYSE:ESTC)

Fuller & Thaler Asset Management Inc. purchased a new position in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 464,582 shares of the company's stock, valued at approximately $46,031,000. Fuller & Thaler Asset Management Inc. owned approximately 0.45% of Elastic as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Barclays PLC raised its holdings in shares of Elastic by 56.2% during the 3rd quarter. Barclays PLC now owns 153,155 shares of the company's stock worth $11,757,000 after acquiring an additional 55,084 shares in the last quarter. Virtu Financial LLC raised its holdings in Elastic by 131.9% during the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock valued at $333,000 after buying an additional 2,467 shares during the period. Tidal Investments LLC increased its stake in Elastic by 239.1% in the third quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock worth $753,000 after purchasing an additional 6,915 shares during the period. Franklin Resources Inc. increased its stake in Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock worth $28,387,000 after purchasing an additional 245,680 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Elastic in the third quarter worth $14,324,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Activity

In other Elastic news, CTO Shay Banon sold 2,683 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the sale, the chief technology officer now directly owns 4,535,456 shares in the company, valued at $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 over the last three months. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Performance

Shares of ESTC traded up $0.71 during mid-day trading on Tuesday, hitting $85.51. 218,658 shares of the company's stock were exchanged, compared to its average volume of 1,382,590. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The firm has a market capitalization of $8.93 billion, a P/E ratio of 155.28 and a beta of 1.19. The business's 50 day moving average is $91.05 and its two-hundred day moving average is $96.67. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. On average, equities analysts expect that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ESTC shares. Robert W. Baird increased their price target on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. UBS Group upped their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Canaccord Genuity Group increased their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald initiated coverage on shares of Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $127.48.

Elastic Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.